Bitcoin correction is over
Updated
Waiting for break out, first target ~ 645 $
Note
Title might be a bit confusing.I believe the correction will be over with the break out. And I am confident that btc will go up for the following reasons:
- Hashrate is slowly going up again after halving.
- Income of miners is the same like in oct 15. Means price and production cost is very close.
- Less selling pressure because of halved block reward.
- The second price drop was caused by the finex hack, dust has settled, volume has moved to btc-e and Bitcoin is still Bitcoin.
- A lot of money is on sidelines
- Bitcoin is needed to join the booming alt market
I think another major drop would require a new bearish event, otherwise we will leave the structure and sideline money will buy in again.
Note
my guess for next days Note
nice <3
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